- The largest meme cryptocurrency Dogecoin (DOGE) has topped the list of cryptocurrencies most bought by BNB Chain whales after an increase of over 30 percent.
According to data received by WhaleStats, a platform that tracks whales’ on-chain activities, the most popular meme cryptocurrency DOGE has made it into the top 10 coins that are chasing BSC (BNB Chain) whales.
This development has reportedly come after Dogecoin surged by over 30 percent following the news about Twitter and Tesla CEO Elon Musk. At the time of writing, Twitter reportedly accepted Elon Musk’s offer.
“Breakthrough: Dogecoin (DOGE) has become one of the top 10 most bought tokens by the top 100 BSC whales in the last 24 hours. 🐳”
Musk close to buy Twitter, Dogecoin rises
It turned out that social media giant Twitter will accept Elon Musk’s offer to buy and privatize the company.
Earlier this month, KoinFinans reported that Tesla boss and most influential Dogecoin supporter Musk has offered to buy 100 percent of Twitter shares for $54.20 per share, for a total of about $43 billion, the billionaire also offered to make the payment in cash.
Musk owned 9.2 percent of Twitter shares at the time he made this offer, and other major shareholders of the social media giant rejected the offer and began increasing their stake in Twitter.
However, Elon Musk announced at the end of last week that he had obtained the necessary funds to buy Twitter. On Sunday, the company’s board of directors held an emergency meeting to discuss the proposal of the world’s richest man and innovator.
On the news that Elon Musk could own Twitter in a week Dogecoin price jumped out, printing a giant one-hour green candle, and rose close to 30 percent. DOGE rose from $0.1254 to $0.1529 on the day.
The original dog cryptocurrency stands at $0.1527 at the time of writing.
EXCLUSIVE-TWITTER INC POISED TO ACCEPT ELON MUSK’S $54.20 PER SHARE OFFER AS THE PRICE AT WHICH THE COMPANY IS SOLD-SOURCES$TWTR
— *Walter Bloomberg (@DeItaone) April 25, 2022
Elon Musk: “These will increase the usability of Dogecoin”
On April 24, Dogecoin co-founder Billy Markus, also known as “Shibetoshi Nakamoto” on Twitter, shared his theory on what changes could benefit DOGE, a project he is no longer a part of but still follows. After this announcement, Dogecoin and its adoption, usefulness, etc. were discussed on Twitter. discussions started.
Markus suggested three things that could help DOGE: Businesses accept it as a currency (as many as possible – the more Dogecoins the better), using DOGE as a tip currency, and building a bridge between DOGE and Ethereum . This will allow the meme money to spread widely within Web3.
Musk responded to that tweet by saying that trick one should definitely be implemented, trick two would be great, and number three was unnecessary.
Will Twitter start using DOGE?
Now that Twitter is almost entirely owned by Elon Musk (there are reports at the time of writing that the famous CEO’s acquisition has taken place), many are hoping the social media giant will start using DOGE for payments and tips. Last year, after the Bitcoin and Ethereum tipping features were introduced, Markus suggested that the coin should be used to tip content creators.
This year, after being invited to join the Twitter board, Elon also suggested using DOGE as payment for the Twitter Blue VIP subscription.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.